Zimbabwe’s President Emmerson Mnangagwa’s has commissioned the expansion of Hwange Thermal Power Station,which will see the construction of two more generating units, 7 and 8, with each generating 300MW of electricity on completion at a cost of US $1.5bn.
According to Zesa Holdings spokesperson Mr Fullard Gwasira,the Chinese firm, Sino Hydro, will be undertaking the expansion project, set to be complete in 42 months and create about 2 500 jobs.
Job creation is one of President Mnangagwa’s aspirations,with tries to improve the living standards of citizens, most of whom are still reeling from over a decade of economic recession under former President Robert Mugabe.
The Hwange Thermal Power Station expansion project comes at a time when Government is luring both local and foreign investors to set up businesses, employ citizens and develop infrastructure and new business requires more power.
Foreign investors’ appetite for Zimbabwe’s investment opportunities is on the rise after the new administration tweaked the Indigenisation and Economic Empowerment Act, which was seen as draconian.
Government has since amended the Act to allow foreign investors to own their projects 100 percent in all sectors apart from diamonds and platinum where the 51 /49 shareholding structure still applies.Total capacity at Kariba South has now increased to 1 050 MW adding a further 300MW into the grid.